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CBO to release report on ACA payments; Berkshire makes 2 new investments

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Q&A: Navigating Climate Risk as a Financial Risk

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report


CBO to release report on ACA payments; Berkshire makes 2 new investments

The nonpartisan Congressional Budget Office expects to release a report this afternoon about the effects of terminating payments for cost-sharing reductions under the Affordable Care Act. The analysis is expected to include effects on the federal budget, health insurance coverage, market stability and premiums.

An opinion piece in The Wall Street Journal argues that increasing the duration of short-term health insurance plans may revive part of the ACA individual market.

Reps. John Larson and Joe Courtney have proposed Medicare buy-in starting at age 50 to bring down costs for Medicare customers, the Hartford Courant reported, citing their remarks at Manchester Memorial Hospital. Under the proposal, customers aged 50-64 in the individual market would have the option to pay premiums and buy Medicare coverage. Small businesses could also buy Medicare coverage for their older employees. Larson's and Courtney's bill will be introduced in September.

Security National Financial Corp. notified the Securities and Exchange Commission that it would delay its Form 10-Q filing for the second quarter after errors were found in its accounting procedures.

Berkshire Hathaway Inc. made new investments in Synchrony Financial and STORE Capital Corp., a real estate investment trust, in the second quarter, according to the company's latest investment ownership filing.

In deal updates, Northrim Benefits Group sold substantially all its assets to Acrisure LLC. Anchorage, Alaska-based Northrim BanCorp Inc. sold its 50.1% interest in Northrim Benefits for $4.6 million.

AssuredPartners Inc. acquired Jefferson City, Mo.-based Naught-Naught Agency.

Athene Holding Ltd. Chairman and CEO Jim Belardi expects to find more partners to grow its business in the U.S. and Europe after inking a reinsurance agreement with Lincoln National Corp.

In capital offerings, Tiptree Inc. has filed a prospectus for the sale of up to 756,046 class A common shares by selling stockholders at a maximum aggregate offering price of approximately $5 million, including a stake in the company held by Reliance Investors LLC.

In earnings news, Atlantic American Corp. reported second-quarter operating income of $789,000, up from $225,000, in the year-ago quarter.

A return to more typical levels of catastrophe losses would make reinsurers' earnings more volatile, according to S&P Global Ratings. Reinsurance losses rose to $54 billion in 2016 from $36 billion in 2015, moving claims closer to the 10-year average. While capital adequacy in the sector remains strong, some reinsurers are more exposed and sensitive to catastrophe risk than others, the rating agency said.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.

Aetna Inc. and Apple Inc. have had private discussions about offering a free or discounted Apple Watch to Aetna members, "three people familiar with the matter" told CNBC.

The Florida Office of Insurance Regulation said it will conduct a rate hearing Aug. 23 to receive public comment on Citizens Property Insurance Corp.'s proposed rate changes for its business in the coastal account, commercial lines account and personal lines account.

Featured news

Teva off Israel's top stock spot; Merck CEO resigns from White House council: Merck & Co. Inc. Chairman and CEO Kenneth Frazier resigned from President Donald Trump's White House manufacturing council.

Financial news in other parts of the world

Asia-Pacific: ANZ posts rise in cash profit; MS&AD Insurance to invest in Australian company

Europe: HSBC names ring-fenced bank CFO; Swiss Life to stay cautious on M&A

Middle East & Africa: Ghana shuts 2 troubled banks; Beltone Financial plans $1B investment fund

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng dropped 0.28% to 27,174.96, while the Nikkei 225 gained 1.11% to 19,753.31.

In Europe, around midday, the FTSE 100 rose 0.48% to 7,389.17 and the Euronext 100 climbed 0.38% to 1,000.20.

On the macro front

The retail sales report, the Empire State manufacturing survey, the import and export prices report, the Redbook, the business inventories report, the housing market index and the Treasury International Capital report are due out today.